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Stock Index Futures Higher


U.S. stock index futures are higher. Stock index futures have been able to partially recover after selling that was prompted by Wednesday’s less dovish that expected Federal Open Market Committee meeting.

The 9:00 central time September consumer sentiment index is expected to be 75 and the 9:00 September leading indicators report is anticipated to be up 1.3%.

Longer term, stock index futures are likely to be supported by the belief that the Federal Reserve will keep interest rates near zero for several years.


The U.S. dollar index is lower today and has not performed well over the last two days. The greenback should have been supported by the FOMC statement and Fed Chair Powell’s comments. A lower U.S. dollar after bullish news could be viewed as a sign of weakness.

The Japanese yen hit a seven week high and is approaching levels that in the past prompted calls from Japan’s monetary authorities to limit gains in the yen. The upcoming U.S. elections, as well as the ongoing tensions between the U.S. and China have contributed to the safe haven demand for the yen.

Tokyo markets will be closed on Monday and Tuesday next week.


Federal Reserve speakers today are James Bullard at 9:00 and Raphael Bostic at 11:00.

Interest rate market futures at the short end of the curve are likely to be supported by ideas that major central banks, including the Federal Reserve, will keep short term interest rates low for an extended period. Some analysts believe it will be several years before the Federal Reserve will be in a position to hike its fed funds rate.

However, futures at the long end of the curve, especially the 30-year Treasury bond futures may be undermined by the inflationary aspects of the Federal Reserve’s “average inflation targeting” policy.

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Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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